Stocks rallied and the dollar strengthened in Japan on Wednesday as votes in the U.S. presidential election were counted and as it became increasingly apparent that Donald Trump would likely win.
“The financial markets reaction is not surprising,” said Bart Wakabayashi, a Japan representative and Tokyo branch manager, State Street Bank and Trust. “Given the polling, I’m not surprised.”
Trump was strong throughout the day as ballots were counted. By early Wednesday afternoon in Tokyo, it seemed clear that the former U.S. president was on his way to a victory.
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